I will make sure to see what collateral can be claimed in the event of a default, especially if the loan can't be secured against the property.Unfortunately, @Robert Kinsey's post was removed before I had a chance to see it.Thanks for the tips!

So my options are to keep the drop down ceiling or remove the dropdown ceiling and rerun electrical and repair the drywall, to the tune of $2,000-$3,000. 

If you used your VA Home Loan to purchase the Home you have a Home Warranty in effect.

Importantly, even if the rule does come into effect, it won't be until July 2019.

Whatever you do, be careful and invest in a growth area a diverse city and where you think we are in the real estate cycle. the age of the subject improvement and if there are any possible subject construction items that need to be covered up or removed by a special contractor.Good luck to you!

Moreso,  my researching into the market, I realized it's cheaper and cost effective to buy than to rent.

That means that you'd be paying the hard money lender effectively more than your rental income.

The only other one I can think of is waste management/trash removal fee but I have no clue what this would cost.

It will force you to have a better property, spend more to remove deferred maintenance and to be more responsive to your residents needs. 

They all are having catalytic economic effects.